You are not happy with how you handled the previous tax season. You did not want to take the step that you ended up taking, and now you feel like there is no way back. We do not want you to feel that way. We want you to know that if you are serious about making things right, you still have a very good chance. But what you are going to need to do is visit with a tax pro. For instance, you can go on sites like http://helpwithtaxproblems.org/ and you can see if they can pair you up with someone who can help you with your problem.
The most common problem that people face with respect to their taxes is that they have not paid the full amount, or they did not pay the taxes at all. If you know that you made this move, you are now in the path that has two endings. You can either decide that you are going to go ahead and negotiate with the IRS, or you are going to try and ignore the problem. We would strongly encourage that you go with the first one. We believe that is going to give you the best chance of making things right. That is what will help you in a big way.
Do not think that you are going to get away with what you did. Yes, if you had a small bill the IRS is not going to chase after you right away. But that does not mean they are unaware of what happened. They know precisely how much tax you had to pay and how much you did pay. They may even take a few years before they come after you, but you will never know when it is going to happen. And the biggest thing is that you will not even know how severe they may be with their actions.
That is what you have to fear. And we do not want you to live in fear. We want you to be in a position where you are getting this thing resolved. We want you to contact the IRS and we want you to tell them what you did. This will be the best way to approach the matter. You are going to talk with a tax professional and you will tell them how much you owe. And then you can tell them whether you have the money to pay the taxes back in full.
If you do have the money, just pay the IRS. Do not let this linger. Just get the matter resolved. But even if you do not have the full amount, you should know the IRS will agree to a deal where you are paying through installments. It is not the ideal situation for either party, as you will have to pay some interest and the IRS does not get all the money right away. But you are making an effort, and that is what counts the most.